Mint Tower Capital Management B.V. Buys New Holdings in Qorvo, Inc. $QRVO

Mint Tower Capital Management B.V. bought a new stake in Qorvo, Inc. (NASDAQ:QRVO) during the fourth quarter, Holdings Channel reports. The fund bought 10,000 shares of the semiconductor company’s stock, valued at approximately $845,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QRVO. Stance Capital LLC acquired a new position in Qorvo in the third quarter valued at $27,000. Sound Income Strategies LLC lifted its position in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 343 shares in the last quarter. Advisory Services Network LLC acquired a new position in Qorvo during the third quarter valued at approximately $36,000. Clearstead Advisors LLC lifted its position in Qorvo by 93.3% during the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 208 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Qorvo during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 2.8%

NASDAQ QRVO opened at $97.66 on Friday. The company’s fifty day simple moving average is $91.07 and its 200-day simple moving average is $85.67. Qorvo, Inc. has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.60 billion, a P/E ratio of 26.98, a PEG ratio of 1.48 and a beta of 1.43.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. During the same period in the previous year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts predict that Qorvo, Inc. will post 5.87 EPS for the current fiscal year.

Insider Activity

In other news, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the transaction, the vice president directly owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,966,127 shares of company stock valued at $198,911,103. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QRVO. JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Craig Hallum reaffirmed a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Mizuho reaffirmed an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Finally, Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.63.

Qorvo Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.